Vanguard Group Inc. Sells 491,855 Shares of Hawaiian Electric Industries, Inc. $HE

Key Points

• Vanguard Group Inc. has reduced its stake in Hawaiian Electric Industries by 2.7%, now holding approximately 10.28% of the company, valued at around $194.25 million.
• Multiple institutional investors increased their positions in Hawaiian Electric Industries, with Janney Montgomery Scott LLC raising its holdings by 269.7% in the first quarter.
• Analysts have assigned Hawaiian Electric Industries a consensus rating of "Hold" with a target price averaging $11.94, though some firms have lowered their target prices recently.

Vanguard Group Inc. trimmed its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 2.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,740,114 shares of the utilities provider's stock after selling 491,855 shares during the period. Vanguard Group Inc. owned about 10.28% of Hawaiian Electric Industries worth $194,254,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP grew its holdings in Hawaiian Electric Industries by 379.3% during the 1st quarter. Allworth Financial LP now owns 2,574 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 2,037 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Hawaiian Electric Industries by 3,797.8% during the 1st quarter. Farther Finance Advisors LLC now owns 3,469 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 3,380 shares during the last quarter. Byrne Asset Management LLC grew its holdings in Hawaiian Electric Industries by 34.0% during the 1st quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider's stock valued at $43,000 after purchasing an additional 987 shares during the last quarter. Comerica Bank grew its holdings in Hawaiian Electric Industries by 69.3% during the 4th quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 1,715 shares during the last quarter. Finally, US Bancorp DE grew its holdings in Hawaiian Electric Industries by 51.2% during the 1st quarter. US Bancorp DE now owns 4,293 shares of the utilities provider's stock valued at $47,000 after purchasing an additional 1,453 shares during the last quarter. 59.91% of the stock is currently owned by institutional investors.

Hawaiian Electric Industries Trading Up 0.5%

HE stock traded up $0.0650 during mid-day trading on Monday, reaching $12.2650. The company had a trading volume of 1,939,621 shares, compared to its average volume of 1,870,141. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $2.12 billion, a PE ratio of -12.14 and a beta of 0.64. The firm has a 50 day moving average of $10.92 and a 200 day moving average of $10.69. Hawaiian Electric Industries, Inc. has a 12 month low of $8.14 and a 12 month high of $13.18.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%.The company had revenue of $746.39 million during the quarter. On average, equities analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

HE has been the topic of several analyst reports. Jefferies Financial Group upped their price target on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a report on Wednesday, May 28th. Barclays dropped their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Finally, Wall Street Zen upgraded shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $11.94.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.